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External numerical flexibility is the adjustment of the labour intake, or the number of workers from the external market. This can be achieved by employing workers on temporary work or fixed-term contracts or through relaxed hiring and firing regulations or in other words relaxation of employment protection legislation, where employers can hire and fire permanent employees according to the ...
Global labor arbitrage is an economic phenomenon where, as a result of the removal of or disintegration of barriers to international trade, jobs move to nations where labor and the cost of doing business (such as environmental regulations) are inexpensive and/or impoverished labor moves to nations with higher paying jobs. [1]
The model operates with a production function where national output is the product of two inputs: capital and labor. The Solow model assumes that labor and capital are used at constant rates without the fluctuations in unemployment and capital utilization commonly seen in business cycles. [33]
The tight labor market has hit certain industries — like health care and hospitality — particularly hard, but it’s having an impact across the entire economy. Workers’ wages have gone up ...
A "customs union" introduces unified tariffs on the exterior borders of the union (CET, common external tariffs). A "monetary union" introduces a shared currency. A "common market" add to a FTA the free movement of services, capital and labor. An "economic union" combines customs union with a common market.
"Labor market conditions remain very strong, and the economy is returning to a better balance between the demand for and supply of workers," Fed Chair Jerome Powell said in a speech on Dec. 1.
She said the current 4.3% unemployment rate is "certainly well within" the Fed's 5% target, and that any recent weakening is merely a return to normal after years of very tight labor market ...
The labour market in macroeconomic theory shows that the supply of labour exceeds demand, which has been proven by salary growth that lags productivity growth. When labour supply exceeds demand, salary faces downward pressure due to an employer's ability to pick from a labour pool that exceeds the jobs pool.